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Blanchet Limited placed in voluntary liquidation

Wednesday, 10 December 2003

Jude Riddell owner of the Frock Shop at Raumati Beach and the Nicholas Blanchet store in the Old Bank Shopping Arcade on Wellington’s Lambton Quay issued a statement today following advice of the impending announcement by designer Nick Blanchet that his company Blanchet Limited was being placed in voluntary liquidation.

“The Nicholas Blanchet store in Wellington is financially independent of Blanchet Limited and as such is not impacted by any recent announcements. The store name was originally chosen to reflect the major contribution that the Nicholas Blanchet collection made to its operation rather than any business or financial linkages.”

“The Wellington store will continue to trade as Nicholas Blanchet for the balance of this summer season but will be looking to rebrand early in the New Year to reflect the change in the balance of labels in-store.”

“I have been a great admirer of Nick Blanchet’s talent since early 1994 and have supported the development of his brand in the Wellington region since opening the Frock Shop in September 2001. I was hopeful that Nick could overcome his recent financial difficulties through his proposed new business partnership but this has obviously failed to materialise. Consequently, it is a tragedy for the New Zealand fashion industry losing such a prominent internationally respected designer label in this way”.

“Both our stores will continue to support and promote the Nicholas Blanchet brand throughout this season and will be introducing a number of new and vibrant brands for the Winter 2004 season.”

ENDS

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